Toronto MLS Housing Statistics for September 2008

September’s numbers are in. There were 6,866 homes sold across the GTA in the month and the average price was $368,549. While the financial markets are seeing big changes, the Toronto real estate market remains fairly steady. The volume of homes sold continues to track below last year’s record volume. Price wise the September number is up 1.0% from the month before, but still 7.1% below the market peak of last October.

The current market conditions are considered to be “balanced”, and present excellent opportunities for both buyers and sellers. There is a good supply of homes for sale for buyers to choose from, and the number of bidding wars is much less frequent. Home sellers need to ensure there homes look great and are priced competitively.

My approach for sellers is to work with them to prepare their homes for sale, completing necessary repairs and staging the home.

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